(Alliance News) - Nusco Spa reported Thursday that it closed the first half of the year with revenues of EUR24.6 million and value of production of EUR24.6 million.

Material profit is EUR9.9 million, contribution margin EUR6.9 million and adjusted EBITDA EUR2.9 million.

Operating profit is EUR2.1 million, pretax profit is EUR1.6 million and net profit is EUR1.1 million.

Net financial debt as of June 30 was EUR6.5 million from EUR7.4 million as of Dec. 31, 2022, with cash and cash equivalents amounting to EUR3.3 million from EUR1.8 million as of Dec. 31, 2022.

On the recent resignation of the chairman and CEO, Luigi Nusco, the company announces that the board has taken note of the resignation submitted for personal reasons and that it has also taken note today of a communication received on the same date from Luigi Nusco's lawyers in which it was illustrated that he has resigned, as a precautionary measure, due to the application against him of a precautionary measure in the context of ongoing investigations into circumstances that are absolutely unrelated to the Nusco group as well as to the activity carried out by it.

"The company therefore reassures its shareholders that the Nusco group is completely unrelated to the above-mentioned affair as well as to the regular continuity of its business," the company said.

Nusco's stock closed Thursday up 5.0 percent at EUR0.84 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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